How many gift cards do you have in your wallet right now? Better question: How many gift cards have you forgotten about?
According to a new survey from CreditCards.com, 47% of American have at least 1 unused gift card in their wallet and all these unused gift cards add up to about $21 billion nationwide.
Here are some other findings from the survey:
- On average, Americans have $175 worth of unused gift cards, vouchers and store credits, $61 more than last year.
- Millennials are the most likely to have unused gift cards (52%), with $226 in unused credit.
- Gen Z closely followed(51%), who have, on average, $149 in unused gift cards.
- Only 43% of Gen X are holding on to unused gift cards, worth, on average $180.
- As does 42% of Baby Boomers, worth about $133.
Why are these gift cards unused?
- Well, 29% of people simply say they held on to them too log.
- Another 25% have no idea where the gift card is.
- 47% of people eventually lose out on their funds, some because the business closed before the card could be used.
Source: USA Today